Technology Companies Carve Out Some Solid Gains

December 06, 1998|By Bill Barnhart, Tribune Markets Columnist.

Despite last week's volatile stock market, shares of several local technology firms had good gains.

Lisle-based telecommunications-equipment supplier Tellabs joined a rally in its sector Friday. Its shares gained 7 percent for the week, to $60.12, its first close above $60 since Aug. 21. Another Lisle company, electronic equipment-maker Molex, which has a significant Asian presence, rose 5.6 percent, to $38.75, a record closing high.

Two local giants, meanwhile, had a tough week. Chicago-based Amoco, which is merging into British Petroleum, fell 9.4 percent, to $55.25, as world oil prices hit 12-year lows. Sears Roebuck, based in Hoffman Estates, lost 11 percent, to $42.81, after reducing its 1998 profit forecast.

One of the week's biggest local movers was Elmhurst-based Keebler Foods, which jumped 12.5 percent, to a record closing high of $36.